WPP (NYSE:WPP) Sees Unusually-High Trading Volume

Shares of WPP plc (NYSE:WPP) saw unusually-strong trading volume on Friday . Approximately 110,648 shares changed hands during mid-day trading, a decline of 27% from the previous session’s volume of 151,361 shares.The stock last traded at $47.09 and had previously closed at $47.92.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.00.

WPP Stock Down 0.3 %

The company’s fifty day moving average is $50.54 and its 200-day moving average is $48.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On WPP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meritage Portfolio Management grew its holdings in WPP by 210.3% during the 4th quarter. Meritage Portfolio Management now owns 59,399 shares of the business services provider’s stock valued at $2,826,000 after buying an additional 40,254 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in WPP during the 4th quarter valued at approximately $1,279,000. Bard Financial Services Inc. grew its holdings in WPP by 7.7% during the 4th quarter. Bard Financial Services Inc. now owns 97,205 shares of the business services provider’s stock valued at $4,624,000 after buying an additional 6,945 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in WPP by 27.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 132,379 shares of the business services provider’s stock valued at $5,901,000 after buying an additional 28,439 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in WPP by 21.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,287 shares of the business services provider’s stock valued at $870,000 after buying an additional 3,281 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.